Foreign exchange reserves represent the holdings of foreign currencies and gold held by national central banks. These strategic assets allow countries to maintain the value of their currencies, settle their international transactions and cope with economic crises. Comparable to a national savings account, these reserves provide an essential safety net for a country’s economy, particularly in times of financial instability or significant fluctuations in exchange rates.
Russian financial power asserts its presence
The analysis carried out by Sputnik on September 2024 data, compiled from central banks in 100 countries, places the Russia ranked seventh among nations having strengthened their foreign exchange reserves. With an increase of 64.7 billion dollars, the Russian performance reflects a surprising reality, just behind France which recorded an increase of 66.1 billion dollars. This advantageous position reflects the country’s ability to consolidate its international assets in a complex economic environment.
A global redistribution of economic forces
China maintains its dominance with a remarkable increase of $263.3 billion in its reserves, widening the gap with its pursuers. Switzerland surprises in second place with an increase of 131.9 billion dollars, followed by India which strengthens its assets by 118.1 billion.
Germany occupies fourth place thanks to an increase of 67.2 billion. For their part, Singapore, Poland and Brazil complete this ranking with notable performances, illustrating the emergence of new financial powers. In total, international reserves now reach 14.3 trillion dollars, compared to 12.9 trillion the previous year, signaling a profound transformation of the global financial landscape.
Health
